Lawrence Nwimo, Awka
The Federal Government has signed a deal for the concession of the Onitsha Port with the Universal Elysium Consortium, stating that the concession will generate over N23 billion in 30 years.
Universal Elysium Consortium is made up of Universal Elysium Limited (lead Investor); China National Electrical Engineering Limited (EPC contractor); Port of ANTWERP (technical partner); and China Harbor Engineering Company (Nig.) Ltd (technical partner).
The concessioning process was mid-wifed by the Infrastructure Concession Regulatory Commission, as the concession agreement was signed at the headquarters of the Federal Ministry of Transportation in Abuja.
A disclosure made by the Minister of State for transportation, Sen. Gbemisola Saraki, during the signing of the concession of the port on Thursday in Abuja, said the port would generate about N23b to the Federal Government in 30 years as part of the concession agreement.
The Minister who disclosed this during the concession signing ceremony in Abuja said the port would create a lot of wealth and jobs.
She described the seaport as one of catalysts for other river ports.
Saraki also said the river port was targeted at decongesting other seaports and to usher in growth.
She added that the river port would help to address the issue of traffic on the roads.
“It is a very good thing and we are exceptionally proud that at long last we have achieved this,” she said.
The Minister disclosed that other river ports, including Baro, Lokoja and Oguta would follow in the stage of concessioning like Onitsha.
According to her, the river ports were in different stages of completion.
“The most important thing is that we already have interest from potential investors who want to actually take over this,” she said.
The Managing Director, National Inland Waterways Authority (NIWA), George Moghalu, said the Onitsha river port would reduce the traffic of cargoes going to the South-East by road.
Moghalu expressed optimism that the concession would open up opportunities for other ports to be given necessary considerations.
